(HOUSTON) – Hines, the international real estate firm, announced today the signing of leases with Calpine and Smyser Kaplan & Veselka, L.L.P. at 717 Texas in Houston. The building is completing a renovation that will welcome forward-thinking tenants for years to come. The renovations include a hospitality-inspired lobby with new furnishings, wall and elevator finishes, lighting and security console upgrades. In addition, new food and beverage concepts will offer the building tenants coffee by day, happy hour in the evening, and numerous casual dining alternatives. The ground-floor revitalization is scheduled to be completed in April of this year.
Hines Senior Vice President John Mooz said, “We are thrilled that Calpine has extended its term in the building for a commitment that will now span over two decades. We are also extremely pleased that Smyser Kaplan & Veselka has chosen to make 717 Texas its new home. These leases are evidence of the excitement over the repositioning of the asset that will be completed in just a few months.”
Calpine, the largest generator of electricity from natural gas and geothermal resources in the United States, renewed their 126,000-square-foot lease. Calpine has been an anchor tenant at 717 Texas since the building’s original development in 2003. Calpine was represented in lease negotiations by Lucian Bukowski with CBRE. Win Haggard with Colvill Office Properties, represented Hines, the building developer, owner and property manager.
Smyser Kaplan & Veselka, L.L.P., a litigation law firm headquartered in Houston, signed a new lease at the building for 28,000 square feet. Smyser Kaplan & Veselka was represented in lease negotiations by Jim Bailey and Trey Strake with Cushman & Wakefield. Win Haggard with Colvill Office Properties also represented Hines on the transaction.
717 Texas is a 33-story, 697,195-square-foot office tower located in Houston's vibrant, northern Downtown. Designed by HOK, the granite-clad Class A office tower features some of the most energy efficient and environmentally friendly office space in Houston. Completed in 2003, 717 Texas was the first skyscraper in the state of Texas to achieve Platinum certification under the U.S. Green Building Council's LEED® rating system for Existing Buildings.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
